Slovakia is an exceptionally easy country to send money to. There are plenty of excellent deals available to you, and receiving money in Euros helps by giving you access to better international currency conversion rates, compared to what you might find in other countries.
The current exchange rate for the Euro (EUR) is 1.017695 EUR per American Dollar (USD) as of the time this was written. The EUR reached a high of 1.0421 EUR per USD and a low of 1.0163 EUR per USD during the last 90 days. The average exchange rate for the last 90 days was 1.0302 EUR per USD.
The EUR had an average volatility rate of 0.26% against the USD for the last 90 days. This is a normal volatility rate, and the EUR has been fluctuating similarly for a long time now. You can reasonably expect only normal fluctuations in exchange rates to continue going forward, barring any unforeseen circumstances.
The fastest way to send money to Slovakia is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Slovakian destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers can take a bit longer.
The only downside to Western Union’s fast option is the fact that it is very expensive. You can always expect to pay more with Western Union, but their service is ubiquitous and relatively secure.
The cheapest way to send money to Slovakia is through OFX. OFX only charges a small percentage of each transaction, but that percentage gets smaller the more money you send through OFX at once.
OFX will either transfer your Euros to their Slovakian destination, or they will convert your currency into Euros during transit. For a guide on avoiding fees when sending money abroad through OFX, you can refer to their website.
The easiest way to send money to Slovakia is through TransferWise. TransferWise is a peer-to-peer money transfer system that makes sending money to Slovakia very easy. Once you set up your account, you just need to follow their simple process whenever you need to send money:
1) Tap in the amount of money to be sent
2) Tap in the destination for the money
3) Pay TransferWise for the transaction
4) Wait a day or two for your money to reach its Slovakian destination
TransferWise offers the overall best way to send money to Slovakia. TransferWise is the best option because they offer the best-rounded deal, which is good for many different situations. Their waiting times are moderate, but the rates they charge and the platforms they offer are the areas where TransferWise shines. When ease of use, cost, and speed are considered, TransferWise offers the best way to send money to Slovakia.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com